Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $52.00.
A number of equities analysts have recently weighed in on BLKB shares. Raymond James Financial reiterated an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a research note on Wednesday, July 29th. Weiss Ratings raised Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Stifel Nicolaus reduced their price target on Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Finally, Robert W. Baird set a $68.00 price objective on Blackbaud in a research report on Thursday, October 29th.
View Our Latest Research Report on BLKB
Blackbaud Stock Down 0.5%
Shares of BLKB opened at $55.80 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02. The company has a debt-to-equity ratio of 8.55, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud has a 52 week low of $25.58 and a 52 week high of $64.84. The firm’s 50-day simple moving average is $47.80 and its 200 day simple moving average is $41.42.
Blackbaud (NASDAQ:BLKB – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.03. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. The firm had revenue of $292.64 million during the quarter, compared to the consensus estimate of $293.93 million. During the same period last year, the business posted $1.10 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that Blackbaud will post 3.74 earnings per share for the current year.
Insider Activity
In related news, CFO Chad Anderson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $47.56, for a total transaction of $95,120.00. Following the transaction, the chief financial officer directly owned 59,883 shares of the company’s stock, valued at approximately $2,848,035.48. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael P. Gianoni sold 17,000 shares of Blackbaud stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $47.35, for a total transaction of $804,950.00. Following the completion of the sale, the chief executive officer owned 423,264 shares of the company’s stock, valued at $20,041,550.40. This trade represents a 3.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,086 shares of company stock valued at $1,000,761. 2.01% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC increased its holdings in shares of Blackbaud by 162.5% during the third quarter. Salomon & Ludwin LLC now owns 693 shares of the technology company’s stock worth $29,000 after purchasing an additional 429 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Blackbaud in the first quarter valued at approximately $29,000. Parallel Advisors LLC boosted its stake in shares of Blackbaud by 528.0% in the first quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock valued at $30,000 after buying an additional 660 shares during the period. Performa Ltd US LLC boosted its stake in shares of Blackbaud by 337.5% in the second quarter. Performa Ltd US LLC now owns 875 shares of the technology company’s stock valued at $26,000 after buying an additional 675 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Blackbaud by 107.1% in the second quarter. Parkside Financial Bank & Trust now owns 959 shares of the technology company’s stock valued at $28,000 after buying an additional 496 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.
About Blackbaud
Blackbaud, Inc (NASDAQ: BLKB) develops cloud-based software and services for nonprofit organizations, educational institutions, healthcare and other social-impact organizations. Its technology helps customers manage fundraising, donor relationships, financial operations, grantmaking, marketing, ticketing, payments and community engagement.
The company’s product portfolio includes solutions such as Raiser’s Edge NXT for nonprofit fundraising and constituent relationship management, Financial Edge NXT for nonprofit accounting, Luminate for online fundraising and advocacy, Grantmaking, Blackbaud Tuition Management, and Altru for cultural organizations.
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